Dover Co. (NYSE:DOV) Stake Cut by WealthPlan Investment Management LLC

WealthPlan Investment Management LLC cut its position in shares of Dover Co. (NYSE:DOV) by 0.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,639 shares of the industrial products company’s stock after selling 193 shares during the quarter. WealthPlan Investment Management LLC’s holdings in Dover were worth $6,686,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in DOV. Spire Wealth Management raised its stake in Dover by 2.1% during the fourth quarter. Spire Wealth Management now owns 2,475 shares of the industrial products company’s stock worth $464,000 after acquiring an additional 52 shares in the last quarter. Independent Advisor Alliance boosted its holdings in Dover by 0.3% in the third quarter. Independent Advisor Alliance now owns 18,036 shares of the industrial products company’s stock valued at $3,458,000 after acquiring an additional 58 shares during the last quarter. ORG Partners LLC boosted its holdings in Dover by 5.4% in the fourth quarter. ORG Partners LLC now owns 1,140 shares of the industrial products company’s stock valued at $214,000 after acquiring an additional 58 shares during the last quarter. Trust Point Inc. boosted its holdings in Dover by 3.1% during the fourth quarter. Trust Point Inc. now owns 1,957 shares of the industrial products company’s stock worth $367,000 after buying an additional 59 shares during the last quarter. Finally, Main Street Financial Solutions LLC boosted its holdings in Dover by 2.7% during the third quarter. Main Street Financial Solutions LLC now owns 2,255 shares of the industrial products company’s stock worth $432,000 after buying an additional 60 shares during the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on DOV. Citigroup dropped their price target on Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Oppenheimer reaffirmed an “outperform” rating and set a $225.00 price target (up previously from $220.00) on shares of Dover in a research report on Friday, January 31st. JPMorgan Chase & Co. lifted their target price on Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Wells Fargo & Company boosted their price target on Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Finally, Royal Bank of Canada lifted their price objective on Dover from $196.00 to $214.00 and gave the company a “sector perform” rating in a report on Friday, January 31st. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $218.91.

Dover Price Performance

Shares of Dover stock opened at $202.46 on Friday. The firm has a market cap of $27.78 billion, a PE ratio of 10.41, a price-to-earnings-growth ratio of 2.03 and a beta of 1.24. Dover Co. has a 12-month low of $159.48 and a 12-month high of $222.31. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The company’s fifty day simple moving average is $195.26 and its two-hundred day simple moving average is $191.61.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. As a group, equities analysts expect that Dover Co. will post 9.47 EPS for the current year.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a $0.515 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $2.06 annualized dividend and a dividend yield of 1.02%. Dover’s dividend payout ratio is 10.59%.

Dover Profile

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.